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INEX Seeks Approval to Spin-Out Assets Into Tekmira Pharmaceuticals

28 Aug 2006 - Inex Pharmaceuticals Corporation announced that it has filed with securities regulators in Canada and mailed to shareholders the information circular and proxy materials for the shareholders' meeting September 20, 2006 at which INEX will seek approval to spin-out the Company's technology, products, cash and partnerships into Tekmira Pharmaceuticals Corporation. The spin-out of Tekmira will take place by way of a Plan of Arrangement between INEX and its shareholders.
 
"We are confident that Tekmira will become a company with all the attributes necessary to take INEX's promising oligonucleotide-based products forward into clinical trials, to work with and benefit from the product development achievements of INEX's existing partners and to build significant value for shareholders," said Timothy M. Ruane, President and Chief Executive Officer of INEX.